Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.

The Cyprus Securities & Exchange Commission (CySEC) has revealed new details about its efforts to increase oversight of cryptocurrencies and related assets by integrating EU anti-money-laundering rules into Cyprus legislation.

Since the report on the collapse of the Cooperative Credit System was released recently, everyone seemed to have an opinion on the matter about who was to blame for the whole debacle. The report was fairly conclusive, giving a general overview of what the public enquiry discovered.

The Cyprus government, for the last few years have been harping tales of steady growth and booming tourism levels; referring to the relatively high rate of growth of real GDP can be attributed to a number of factors.

An analysis of the implications regarding some of the corporate structure elements in the British Virgin Islands (BVI) business companies and Cyprus companies, by explaining their key characteristics and evaluating how each jurisdiction is adhering to the increasingly strict compliance standards.

Financial analysts and organisations are beginning to welcome the idea that in specific cases, tax efficiency isn’t enough when structuring a business vehicle that will be automatically placed under investigation by certain countries that are becoming increasingly wary of any tax avoidance patterns or practices.

Recently, the Cyprus economy has seen relatively steady growth rates and booming tourism levels over the last few years. The relatively high increase of GDP can be attributed to a number of factors: declining official unemployment rates; surplus government funds and the raising of large financial deals in international markets.

According to a recent report published by the US State Department’s Anti-Money Laundering (AML) unit, Cyprus continues to upgrade its established AML legal framework, while authorities successfully 26 individuals and entities for money laundering related offences in 2018.

Cyprus is an ideal place for holding company location. The following factors described in the article are important when deciding the location of a holding company.

Each licensed Administrative Service Provider (ASP) in Cyprus is registered under CySEC, and must comply with the preparation and submission of the required reports in order to be eligible for maintaining a valid license in Cyprus.

Applying for a residence permit (also known as the yellow slip) is a process which is to be completed by every EU citizen living and working in Cyprus. And once you have managed to obtain it, the permit does not expire and is valid indefinitely.

The tables detailing general expenses in Cyprus can help give you an idea as to how much it will cost you to live there. All figures have been converted into Euros and have been taken using the median from a set of data from 2019-2020 figures ranging from the most expensive to the least.

Cyprus has quickly gained a reputation as a reliable, legitimate offshore jurisdiction, and is universally accepted as the most beneficial tax system in the EU; making it the perfect location for incorporating a company of any type.

In order to apply for a work permit (also referred to as a working visa), the company must be eligible to apply for employing third country nationals. Eligible companies are considered where the majority of Shareholders are non-EU nationals; including Shareholders whose ultimate owners are foreign companies.